Bank of America (NYSE:BAC) Price Target Cut to $55.00 by Analysts at Evercore

Bank of America (NYSE:BAC) had its price objective cut by Evercore from $59.00 to $55.00 in a research report released on Monday morning,MarketScreener reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the stock. Royal Bank Of Canada upped their target price on shares of Bank of America from $56.00 to $59.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Argus upped their target price on shares of Bank of America from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Piper Sandler upped their target price on shares of Bank of America from $56.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, January 15th. Barclays upped their target price on shares of Bank of America from $59.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Finally, Jefferies Financial Group assumed coverage on shares of Bank of America in a research report on Thursday, March 26th. They issued a “buy” rating and a $60.00 target price for the company. Twenty-three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.20.

Bank of America Price Performance

Shares of NYSE:BAC opened at $50.07 on Monday. Bank of America has a fifty-two week low of $33.06 and a fifty-two week high of $57.55. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. The company has a market cap of $357.75 billion, a PE ratio of 13.07, a P/E/G ratio of 1.20 and a beta of 1.23. The firm has a 50-day simple moving average of $50.64 and a 200 day simple moving average of $52.20.

Bank of America (NYSE:BAC) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $27.73 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. Bank of America’s quarterly revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts anticipate that Bank of America will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 6th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.12 annualized dividend and a yield of 2.2%. Bank of America’s dividend payout ratio is currently 29.24%.

Insider Activity at Bank of America

In related news, insider James P. Demare sold 83,832 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the completion of the sale, the insider directly owned 307,240 shares of the company’s stock, valued at $15,362,000. This represents a 21.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bernard A. Mensah sold 94,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the sale, the insider directly owned 170,184 shares of the company’s stock, valued at approximately $7,988,436.96. This represents a 35.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 227,832 shares of company stock valued at $11,094,960 over the last ninety days. Insiders own 0.30% of the company’s stock.

Institutional Trading of Bank of America

Several institutional investors and hedge funds have recently added to or reduced their stakes in BAC. Abound Financial LLC acquired a new stake in Bank of America during the fourth quarter valued at approximately $26,000. Wiser Advisor Group LLC acquired a new stake in Bank of America during the third quarter valued at approximately $27,000. Steph & Co. lifted its position in shares of Bank of America by 224.3% in the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 379 shares in the last quarter. Legacy Bridge LLC lifted its position in shares of Bank of America by 182.3% in the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 330 shares in the last quarter. Finally, Marquette Asset Management LLC purchased a new stake in shares of Bank of America in the 3rd quarter valued at approximately $30,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America News Roundup

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: Goldman Sachs raised its price target to $58 and kept a Buy rating, signaling confidence in BAC’s earnings and capital return potential. Goldman Sachs Adjusts Price Target
• Positive Sentiment: Recent analyst upgrades and bullish notes have put BAC back in focus, citing steady earnings, dividend/buyback capacity and attractive valuation versus fundamentals. Analyst Upgrades Put BAC Back in Focus
• Positive Sentiment: Multiple outlets (Zacks, MSN) highlight BAC as a long‑term buy thanks to earnings outlook and valuation — supportive for investor sentiment heading into Q1. Why BAC Is a Top Stock Long-Term
• Positive Sentiment: BofA research expects major U.S. banks to deliver solid Q1 results overall, which supports BAC’s near‑term outlook ahead of its April 15 report. US Banks Set to Deliver Solid Q1 Results
• Positive Sentiment: Strategic business news — a tri‑branded Royal Caribbean credit card with Bank of America — underscores ongoing card/loyalty revenue opportunities. Royal Caribbean & BofA Tri‑Branded Card
• Neutral Sentiment: Some sell‑side firms trimmed price targets (Autonomous to $54; Evercore to $55) but kept neutral/outperform views — mixed signals that limit downside conviction. Autonomous Lowers PT to $54 Evercore Lowers PT to $55
• Neutral Sentiment: Berkshire/Buffett coverage and value‑oriented writeups continue to underscore BAC as a cheap, core financial holding — supportive but not an immediate catalyst. Buffett Stock Value Piece
• Negative Sentiment: Analysts warn that the rate tailwind that boosted net interest income may be fading, which is a key risk for BAC’s near‑term revenue outlook heading into Q1 results. Rate Tailwind Is Fading

About Bank of America

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.